Sverdlovsk Region improves Economic Outlook and Rating

The government of the Sverdlovsk region increased the budget forecast by 5.9 billion rubles, due to improved economic outlook driving tax and non-tax revenues. The adjusted budget for 2018 amounts in total to 220 billion rubles ($3.9 billion). The additional income should be spent for road funding, salary raises and subsidies for agricultural producers. The budget deficit will decrease by 2.6 billion rubles.

In recent days Analytical Credit Rating Agency raised the investment rating of the Sverdlovsk Region from BBB+ to A- based on a substantially declining budget debt, extended debt repayment schedule, and stable budget discipline. The rating takes also into account the economic outlook for 2018.

Photo: RIA Novosti

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